CSLM Digital Asset plans to raise $200 million through a rights offering and seek a merger with a blockchain company for its initial public offering.

According to Odaily Planet Daily, CSLM Digital Asset Acquisition announced that it will issue Class A common stock and warrants and raise $200 million through an initial public offering. The relevant shares are expected to trade on the Nasdaq Stock Exchange under the symbols "KOYN" and "KOYNW." The company stated that it will seek mergers and listings with companies that strategically utilize blockchain and distributed ledger technologies, including those building infrastructure for wallets, custody solutions, exchanges, data protocols, and tokenized financial instruments, as well as companies building applications such as payments, decentralized finance, and cross-border finance. (Globenewswire)